TORONTO, Aug. 30, 2012 /PRNewswire/ - Transition Therapeutics Inc. ("Transition" or the "Company") (TSX:TTH) (NASDAQ:TTHI) today announced that its licensing partner, Elan Corporation, plc
("Elan") has commenced a Phase 2, placebo-controlled, safety and
efficacy study of oral ELND005 as an adjunctive maintenance treatment
in patients with Bipolar I Disorder (BPD 1) to delay the time to
occurrence of mood episodes. As the first patient has been dosed in
this study, Transition will receive a milestone payment of US$ 11
million from Elan.
This bipolar clinical study is expected to enroll approximately 400
patients with BPD 1. Additional information on the study design and
protocol for this study ELND005-BPD201 can be found at http://clinicaltrials.gov/
Bipolar I Disorder (BPD) is a severe form of BPD, also commonly known as
manic depressive illness. It is a psychiatric disorder characterized
by excessive swings in a person's mood and energy affecting their
ability to function. BPD is a lifetime recurrent disorder with cycles
of dramatic mood swings of highs and lows, often with periods of normal
moods in between. The periods of highs and lows are called episodes of
mania and depression. BPD is also associated with increased
cardiovascular morbidity and suicide risk. The US and EU population of
BPD patients is estimated at approximately 3.5 million.
Transition is a biopharmaceutical company, developing novel therapeutics
for disease indications with large markets. Transition's lead product
is ELND005 (AZD-103) for the treatment of Alzheimer's disease and
bipolar disorder. Transition also has an emerging pipeline of
innovative preclinical and clinical drug candidates. The other drugs in
the pipeline that the Company is developing are for anti-inflammatory
and metabolic indications. Transition's shares are listed on the NASDAQ
under the symbol "TTHI" and the Toronto Stock Exchange under the symbol
"TTH". For additional information about the Company, please visit www.transitiontherapeutics.com.
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considered accurate only as of the date of the release and may be
superseded by more recent information we have disclosed in later press
releases, filings with the OSC, SEC or otherwise. Except for historical
information, this press release may contain forward-looking statements,
relating to expectations, plans or prospects for Transition, including
conducting clinical trials and potential efficacy of its products.
These statements are based upon the current expectations and beliefs of
Transition's management and are subject to certain risks and
uncertainties that could cause actual results to differ materially from
those described in the forward-looking statements. These risks and
uncertainties include factors beyond Transition's control and the risk
factors and other cautionary statements discussed in Transition's
quarterly and annual filings with the Canadian commissions.
SOURCE Transition Therapeutics Inc.